Spitzer Enterprises has secured a $386 million loan from KKR Real Estate Finance Trust to refinance 420 Kent Avenue in South Williamsburg. The large rental project spans 1.5 million square feet, and consists of three towers totaling 857 apartments.
Dig Deeper: The waterfront development also includes 20,000 square feet of retail and restaurant space, 25,000 square feet of indoor amenities, and 80,000 square feet of outdoor space. It’s located on Williamsburg waterfront between South 8th and South 9th Streets.
Financing details: The new mortgage replaces $330 million in construction financing provided by Starwood Property Trust in 2016, according to CO who first reported the news.